RNCOS

Indian Construction Equipment Market Heads at 19% CAGR

“The Indian construction equipment market is projected to grow at a cumulative annual growth rate of around 19% during the forecast period 2013-2018”, RNCOS Study.

Noida, UP -- (SBWIRE) -- 07/01/2014 -- The Indian construction industry offers ample growth opportunities. Unlike western countries, the Indian market is not saturated and is on the expansion spree. Close to 40,000 construction projects are in the pipeline, reflecting huge demand for construction equipments. The Indian construction equipment market is projected to grow at a cumulative annual growth rate of around 19% during the forecast period 2013-2018. Earthmoving equipments such as backhoe loaders and excavators comprise significant share in the overall construction equipment industry.

The presence of global players into the Indian market and their emphasis on using state-of- the-art technologies has created a spurt in the demand for quality products. Players have relied on localizing products according to what suits Indian conditions and without comprising on the quality. On the demand side, the preferences and priorities of customers have shifted towards value. Even with pricing as a vital feature while choosing equipment, customers today opt for value added packages including after sales service, spares availability etc., even if it means choosing equipment which may be higher priced than others.

Research Analysis & Highlights

The latest RNCOS study titled “Indian Construction Equipment Market Outlook 2018”, is a comprehensive analysis of the industry reflecting the holistic market performance of top selling construction equipments in India, their individual market performance, current sales across regions and key states. The report studies the future demand of each of these equipments across the regions and states on the basis of upcoming construction projects in the key application verticals. Other highlights of the report include latest industry trends, challenges, Government policies and initiatives which need to be considered while devising business strategies. Descriptive profiling of key competitors reflects their business, product offerings, dealer -network and strength-weakness analysis.

ABOUT RNCOS
RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.